Robusta Coffee Technical Analysis Summary
Sell Stop:Below 2220
Stop Loss:Above 2390
| Indicator | Signal |
|---|---|
| RSI | Sell |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Sell |
| Parabolic SAR | Sell |
| Bollinger Bands | Sell |
Robusta Coffee Chart Analysis
Robusta Coffee Technical Analysis
On the daily timeframe, ROBUSTA: D1 broke down the uptrend support line. A number of technical analysis indicators have formed signals for further decline. We do not rule out a bearish movement if ROBUSTA: D1 falls below the last low: 2220. This level can be used as an entry point. The initial risk limitation is possible above the last 2 upper fractals, the maximum since August 2011, the upper Bollinger line and the Parabolic signal: 2390. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal maximum. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (2390) without activating the order (2220), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Commodities - Robusta Coffee
The International Coffee Organization (ICO) reported an increase in global coffee exports. Will the ROBUSTA quotes continue to decline?
According to ICO, the global export of Robusta coffee increased in November 2021 by 5.7% y/y and amounted to 3.53 million tons. A week earlier, the American Commitment of Traders (COT) announced that on the ICE exchange, the number of net-long positions on Robusta coffee had reached a 10-year high. Correction of quotes can be triggered by closing buy positions. Another negative factor may be the forecast of the Brazilian agency Somar Meteorologia about the rains in Brazil. This can increase coffee yield. Previously, there was a drought in Brazil.